La prolongation du délai ne devrait pas retarder la privatisation d’Azores Airlines


Share post:

The Azores Regional Finance Secretary said today that the privatization process of the airline company Azores Airlines should not be delayed following the extension of the deadline for the submission of proposals.

“We don’t estimate that it may delay the process, the calendars are defined and the jury will naturally take into account this postponement of the delivery of all processes,” said the regional secretary of Finance, Planning and Public Administration of the Azores, Duarte Freitas, adding that “the remaining process will take place within the deadlines that were estimated.

La prolongation du délai ne devrait pas retarder la privatisation d'Azores Airlines

The governor was speaking in Angra do Heroísmo, on the island of Terceira, on the sidelines of the reading of the communiqué from the Council of Government (PSD/CDS-PP/PPM), meeting in Ponta Delgada, on Thursday, which approved changes to the specifications that establish the terms and conditions of the public tender for the sale of the equity stake in Azores Airlines.

The tender was opened in March, with a 90-day period for submitting bids (until June 20), but the deadline will now be “extended until July 31” following “informal and formal requests” from possible interested parties.

“The Government does not interfere in the bidding process in any way, but the information that the board of directors of the holding company gave us was that there were more than 30 entities that raised the specifications, some of them will naturally submit firm proposals, we hope, but some of them asked for the deadline to be extended,” pointed out the regional secretary of Finance.

On March 7, the Azorean executive revealed that the specifications for the privatization of Azores Airlines provided for the sale of a “minimum” of 51% and a “maximum” of 85% of the company’s capital stock.

In June, the European Commission approved Portuguese state aid to support the airline’s restructuring of €453.25 million in loans and state guarantees, providing ‘remedies’ such as a reorganization of the structure and the divestment of a controlling stake (51%) in Azores Airlines, the SATA group company responsible for the archipelago’s overseas connections.

Related articles

PJ detains 13 people for computer fraud over 1 million euros

The arrests took place in the Porto Metropolitan Area. The suspects are aged between 20 and 60. Thirteen people,...

Nurses from health centers in the Lisbon region on strike on July 4

The Portuguese Nurses' Union (SEP) has called a strike for July 4 for nurses at the health centers...

Portugal in ‘yellow’ due to rain and thunderstorms (but there’s an exception)

All mainland districts, except Faro, will be under a yellow warning today due to the forecast of showers,...

Portuguese marines take part in “unprecedented” army in Lithuania

The innovative concept of employing Marine Forces will be "tested and implemented in its entirety". The "unprecedented" 'Light and...